📉 BTC/USDT Post-PPI Analysis — Sharp Drop, Testing Key Support
Bitcoin is currently trading at 118,462.24 USDT, down -3.90% on the day. The decline follows hotter-than-expected U.S. Producer Price Index (PPI) data, which triggered risk-off sentiment across crypto markets.
🔍 Trend Structure:
- EMA(34): 116,306.31
- EMA(89): 110,824.16
- EMA(146): 106,141.86
- EMA(200): 102,375.57
BTC remains above all major EMAs, but the rejection from 124,474 and drop toward EMA(34) suggests short-term weakness. A break below 116K could shift momentum bearish.
📊 Momentum Indicators:
- MACD: Still bullish (DIF 1,254.31 > DEA 900.39, MACD 353.92)
- RSI(6): 50.20 — neutral zone
MACD shows momentum is fading but not yet reversing. RSI at 50 suggests indecision — BTC could bounce or break depending on volume and sentiment.
🔧 Volume & Participation:
- Volume: 27.79B — elevated, confirming strong selling pressure
- MA(5): 21.70B
- MA(10): 16.33B
Volume spike aligns with the PPI-driven selloff. Watch for divergence or stabilization near EMA(89).
📌 Key Levels:
- Resistance: 120,000 → 124,474
- Support: 116,306 → 110,824 → 106,141
If BTC holds above EMA(34), the bullish structure remains intact. A break below EMA(89) could trigger deeper correction toward 106K.
---
⚖️ Summary:
- ⚠️ PPI shock triggered short-term selloff
- ✅ Long-term trend still bullish above EMA(200)
- 🔍 Watch RSI and volume for reversal or breakdown signals
---
📣 Want more insights like this?
Tap the “Follow” button on my Binance Square profile to get real-time updates, trade ideas, and technical breakdowns. Let’s navigate the crypto market together — smarter and sharper. 📊🔥